Elvalhalcor announced that the Turkish Ministry of Commerce has determined that the import duty imposed in 2017 on copper tube and pipe products from Greece, which for the company was set at 5% in the original investigation, will remain partially in force for an additional five years.

Elvalhalcor, a Greek manufacturer of copper tube and pipe products, participated in the administrative review of the import duty on Greek products, which included the issuance of this decision. A domestic producer in Turkey made the request for the review.

The company reasonably expects that the above decision of the Turkish Ministry of Commerce will not have a material impact on its financial results.